The Bank of Princeton Announces Fourth Quarter 2020 Results
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PRINCETON, N.J., Jan. 28, 2021 /PRNewswire/ The Bank of Princeton (the Bank ) (NASDAQ: BPRN) today reported its unaudited results of operations and financial condition for the quarter ended December 31, 2020. The Bank reported net income of $4.1 million, or $0.60 per diluted common share, for the fourth quarter of 2020, compared to net income of $3.5 million, or $0.52 per diluted common share, for the third quarter of 2020, and net income of $3.4 million, or $0.49 per diluted common share, for the fourth quarter of 2019. The increase in net income, when compared to the three months ended September 30, 2020, was primarily due to a $789 thousand increase in net-interest income and a $275 thousand reduction in the provision for loan losses, partially offset by a $105 thousand decrease in non-interest income and a $316 thousand increase in non-interest expense. The
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